AT&T hits FCC roadblock on path to acquire T-Mobile

By eCampus News staff and wire reports

November 23rd, 2011

The FCC held a hearing this week to investigate the proposed acquisition of T-Mobile by wireless rival AT&T, PCWorld reports. The end result is that the deal does not have the support of the FCC. A senior official at the FCC–who was not authorized to comment publicly—stated, “The record clearly shows that–in no uncertain terms–this merger would result in a massive loss of US jobs and investment.” That is a fairly damning statement, particularly in light of the current economic and employment situation in this country. Saying that a proposed corporate mega-merger will lead to “massive loss of US jobs” is a tough assessment to overcome. FCC chairman Julius Genachowski recommended that the $39 billion deal be submitted for review to an administrative law judge (ALJ). The move is certainly no glowing endorsement, and essentially rejects the deal and passes the buck to the ALJ to shoot it down officially…